When analyzing a real estate development, investment, or transaction, always consider worst-case scenarios. Examples may include prolonged vacancies, a significant rise in interest rates, changes in the business climate, changes in tax law, changes in location quality, casualties, construction problems, permitting or weather delays, legal entanglements, etc. If you cannot afford, financially or emotionally, to handle multiple of these problems at once, don’t do the deal.
Steven Karbank
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